Despite the medias reporting of blockchain and crypto as being anonymous and the prevue of the criminal underworld, it really isn’t…
any one who understands how blockchain works knows that this is not entirely accurate
In fact, the anonymity of the blockchain is divided into varying degrees.
The transfer record of a particular address can be found on the blockchain network, and once the address is associated with an owner’s information, the owners transfer record and assets are no longer a secret. As we know blockchains are by design immutable and with the right software and motivation, they can be very revealing. Now this can be a good thing for say, governments for collecting taxation from businesses, to prevent money laundering and to streamline things like financial accounting, auditing and so on.
But it also has the potential for exploitation by characters and individuals who may wish to misuse those inherent vulnerabilities to gain access to a user’s private information, which could in turn jeopardise their financial position or potentially even their personal safety… In order to address this DCS have pioneered the Mix ZK protocol, which uses Zero Knowledge Proofs in Combination with Hybrid Data Structures, which can effectively provide an additional, very secure, encrypted layer to anonymise the transaction whilst simultaneously protecting user identity, message transmission privacy, and the data’s structural privacy.
Whilst in time we plan to embrace a larger number of Chains to support, and become truly multi chain compatible, the decision we had to make early on was which Blockchain should we begin with, and which one would benefit most from this technology in the short term. In this regard we felt that The Binance Smart Chain, given its huge community, their tremendous success with Pancake Swap, the extensive number of real-world use cases, excellent liquidity and price stability, provided the most compelling case… As of today the currencies we support are BNB, USDT, BUSD and our own DSC….with other currencies in the works..
The transfer record of a particular address can be found on the blockchain network, and once the address is associated with an owner’s information, the owners transfer record and assets are no longer a secret. As we know blockchains are by design immutable and with the right software and motivation, they can be very revealing. Now this can be a good thing for say, governments for collecting taxation from businesses, to prevent money laundering and to streamline things like financial accounting, auditing and so on.
But it also has the potential for exploitation by characters and individuals who may wish to misuse those inherent vulnerabilities to gain access to a user’s private information, which could in turn jeopardise their financial position or potentially even their personal safety… In order to address this DCS have pioneered the Mix ZK protocol, which uses Zero Knowledge Proofs in Combination with Hybrid Data Structures, which can effectively provide an additional, very secure, encrypted layer to anonymise the transaction whilst simultaneously protecting user identity, message transmission privacy, and the data’s structural privacy.
Whilst in time we plan to embrace a larger number of Chains to support, and become truly multi chain compatible, the decision we had to make early on was which Blockchain should we begin with, and which one would benefit most from this technology in the short term. In this regard we felt that The Binance Smart Chain, given its huge community, their tremendous success with Pancake Swap, the extensive number of real-world use cases, excellent liquidity and price stability, provided the most compelling case… As of today the currencies we support are BNB, USDT, BUSD and our own DSC….with other currencies in the works..